TradeFred Review
- Part of major international group of companies with a solid reputation
- MetaTrader 4 application, web and mobile trading platforms
- Withdrawals processed within 1 business day
- Strong range of 150+ tradable assets
- Low spreads
- No European regulation at present
- Range of tradable assets may be considered limited by more advanced traders
- Maximum leverage of 10:1 available on equities
TradeFred is the financial markets trading brand of major online gaming and sports betting company BetFred. Established in 2016, TradeFred offers both forex and CFDs trading, with the company based in Vanatu and regulated by the Vanatu Financial Services Commission. Part of the BetFred Group, the holding company is MagicPath Capital.
TradeFred promises to bring the business model that has been so successful for founder Fred Done across a number of companies. The best known of these is of course BetFred, the recreational gambling company but Done also runs successful sports, media and property businesses. TradeFred has recruited some top names from the forex and trading industry and promises to make to trading experience ‘customer-centric’, ‘hassle-free’ and ‘trusted’ investment solution.
As well as simply providing a CFDs and forex trading brokerage service, TradeFred also provides a strong range of educational resources. These include an economic calendar so traders can conveniently keep on top of major events or data releases coming up that will impact financial markets and trading positions. Daily market round-ups and analysis are also available as is a trade signals service that clients can use to highlight trade opportunities for analysis. Resources for beginner traders to help them learn the ropes are also available and consist of written content and a wide range of video tutorials.
Trading Platforms
TradeFred runs on the MetaTrader 4 platform, the industry standard and by far the most widely used forex and CFDs trading platform internationally. In addition to the actual trading platform where trades are placed and closed, MetaTrader 4 also provides users with a rich resource of additional features and tools.
TradFred clients have the choice of trading on MetaTrader 4 through a downloadable desktop application or a web-based version opened up in a browser. A mobile version is also available in Android and iOS.
Trading Markets
TradeFred offers a range of over 150 different tradable markets and assets across forex, commodities, indices and equities. There are almost 50 different forex pairs available and the commodities offering is also particularly strong, with assets across precious and industrial metals, energy and agricultural commodities.
TradeFred client’s can take advantage of leverage of up to 50:1 on forex trades, 25:1 on indices and commodities and 10:1 for individual equities.
Support
The BetFred Group has built a reputation on a customer-centric approach with a high level of support and customer service. TradeFred is no exception to this rule and support is available in multiple languages and in different time zones. Customers can call telephone support in the UK, Bahrain (for Arabic speakers), Russia and South Africa, with email and enquiry form options also available.
Security and Fairness
TradeFred is not regulated by one of the major European regulators, such as the FCA or Cysec, with company registration and regulation in Vanuta, a South Pacific tax haven popular with online gambling and trading companies. This may put off some clients, and it is a factor as Vanuta regulation means that deposits held on account are not protected in the same way as they would be with European regulation. However, the fact that the broker is part of a large, stable group with a very solid reputation across its business interests and strong financial backing should provide significant peace of mind despite that.
The leverage rates offered by TradeFred are high enough to provide traders with flexibility but are also not excessive, protecting traders from taking on unsuitable risk levels. High net worth clients with a personal account manager can potentially access higher rates of leverage on particular trades on request.
Deposits and withdrawals can be made into trading accounts via bank transfer, debit and credit card and epayment providers WebMoney and Qiwi. No fees are charged for either deposits or withdrawals, which is a major plus and real competitive advantage in comparison with other brokers. Internal processing time for withdrawals is also 1 business day for all payment methods, which is also very competitive in comparison with industry averages. The broker states that payments are protected by ‘state-of-the-art’ security systems that ensure 100% safety.
TradeFred offers customers some nice promotions, the headliner of which is a cashback offer on losing trades for account holders that make at least 100 trader a quarter. Client’s do need to have at least a ‘Standard’ account to take advantage of the cashback promotion, which doesn’t apply to Basic accounts at this stage. Cashback levels range from 10% for Standard account holders to 50% for Premium account holders.
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